Lithium-ion OEM LG Energy Solution will slow its expansion to focus on increasing utilisation at existing production lines, while also starting battery production in the US for energy storage next year, it revealed in its quarterly results.
The US Treasury and Internal Revenue Service (IRS) have finalised the rules and process for the 45X advanced manufacturing tax credit, which effectively provides a subsidy to domestic clean energy technology manufacturing, including batteries.
Transferability and the Inflation Reduction Act (IRA) have opened up tax equity financing to the wider corporate world, but significant risks remain with so many new entrants, tax credits specialist Foss & Company told Energy-Storage.news.
Automotive group Mercedes-Benz has inaugurated what it claimed is the first integrated hydrometallurgical facility in Europe for battery recycling in Baden-Württemberg, Germany.
Australian startup Green Gravity has secured AU$9 million in Series A capital funding to complete product development of its gravity-based energy storage technology.
